Green Energy Corridor:
The Cabinet Committee on Economic Affairs approved the scheme on Green Energy Corridor (GEC) Phase-II for Intra-State Transmission System (InSTS).
- It aims at synchronizing the electricity produced from renewable resources, such as wind and solar, with the conventional power stations in the grid.
- It aims to achieve the target of 450 GW installed RE capacity by 2030.
- The objective of the GEC is to evacuate approx. 20,000 MW of large-scale renewable power and improvement of the grid in implementing states.
- It will contribute to the long-term energy security of India and will promote ecologically sustainable growth by reducing carbon footprint.
- It will facilitate in generating large direct and indirect employment opportunities for both the skilled and unskilled personnel.
- Phase 1 of the Green Energy Corridor is already under implementation in Gujarat, Andhra Pradesh, Karnataka, Himachal Pradesh, Maharashtra, Madhya Pradesh, Tamil Nadu, and Rajasthan.
- It is working for the grid integration and power evacuation of about 24GW of Renewable Energy.
- It will facilitate grid integration and power evacuation of approximately 20 GW of Renewable Energy (RE) power projects in seven States namely, Gujarat, Himachal Pradesh, Karnataka, Kerala, Rajasthan, Tamil Nadu and Uttar Pradesh.
- The transmission systems will be created over a period of five year from Financial Year 2021-22 to 2025-26.
- It is targeted to be set up with a total estimated cost of Rs. 12, 031 crores, and the Central Finance Assistance (CFA) will be 33% of the project cost.
- The CFA will help in offsetting the Intra-State transmission charges and thus keep the power costs down.